First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) Stock Short Interest Falls 71.4%

First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 11,710 shares, a decline of 71.4% from the September 30th total of 40,915 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 4,994 shares, the days-to-cover ratio is currently 2.3 days.

First Trust Dorsey Wright Momentum & Low Volatility ETF Stock Performance

Shares of DVOL opened at $35.97 on Wednesday. The firm has a market cap of $75.54 million, a PE ratio of 24.91 and a beta of 0.72. The firm’s 50 day moving average price is $36.05 and its 200 day moving average price is $36.31. First Trust Dorsey Wright Momentum & Low Volatility ETF has a twelve month low of $33.60 and a twelve month high of $38.30.

First Trust Dorsey Wright Momentum & Low Volatility ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were issued a dividend of $0.0656 per share. The ex-dividend date was Thursday, September 24th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.7%. This is a decrease from First Trust Dorsey Wright Momentum & Low Volatility ETF’s previous quarterly dividend of $0.0989.

Institutional Investors Weigh In On First Trust Dorsey Wright Momentum & Low Volatility ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Sigma Planning Corp bought a new stake in First Trust Dorsey Wright Momentum & Low Volatility ETF in the third quarter worth $558,000. Balefire LLC increased its position in First Trust Dorsey Wright Momentum & Low Volatility ETF by 48.6% during the first quarter. Balefire LLC now owns 33,142 shares of the company’s stock worth $1,146,000 after buying an additional 10,840 shares during the last quarter. Fifth Third Bancorp acquired a new position in First Trust Dorsey Wright Momentum & Low Volatility ETF during the first quarter worth $342,000. Cetera Investment Advisers increased its position in First Trust Dorsey Wright Momentum & Low Volatility ETF by 12.0% during the first quarter. Cetera Investment Advisers now owns 19,851 shares of the company’s stock worth $686,000 after buying an additional 2,125 shares during the last quarter. Finally, Nilsine Partners LLC raised its holdings in First Trust Dorsey Wright Momentum & Low Volatility ETF by 2.9% during the second quarter. Nilsine Partners LLC now owns 38,576 shares of the company’s stock valued at $1,410,000 after buying an additional 1,082 shares in the last quarter.

About First Trust Dorsey Wright Momentum & Low Volatility ETF

The First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is an exchange-traded fund that is based on the Dorsey Wright Momentum Plus Low Vol index. The fund tracks an index of 50 large- and mid-cap, low-volatility stocks exhibiting relative strength. Holdings are weighted by the inverse of their volatility. DVOL was launched on Sep 5, 2018 and is managed by First Trust.